Tulsa pallet manufacturer urges shippers to go green

Tulsa-based Greystone Logistics employs 100 in its Iowa recycling-manufacturing operation.
by Paula Burkes Published: November 11, 2012

Greystone also leases pallets and sells proprietary blends of liquid plastic resins, from mostly melted down milk and detergent bottles, to other manufacturers — such as Advanced Drainage Systems, Baughman Tile Co. and plastic chair makers. Resin sales account for about 16 percent of its revenues, Kruger said.

Established in 1968 as a shell company for other ventures, Greystone acquired a closed plastic company in Dallas and did mostly research and development until 2003, when it paid $12.5 million to acquire a plastic pallet manufacturing facility in Bettendorf, Iowa. There, about 100 employees work around the clock to make 1,500 pallets a day.

Kruger since has bought the two 60,000-square-foot buildings and leased them back to the company. There are eight production lines, which cost about $2 million each, he said.

John Brown, a colleague of Kruger's from Montreal who sold plastic injection molds and other assets to Greystone, said the company faces a kind of paradigm challenge.

“People think recyclable products should cost less when they should cost more,” Brown said.

Meanwhile, Greystone's next goal is to hit $100 million in annual sales, Kruger said.

“We want our multiple shareholders to reap some revenue at some point,” he said.

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by Paula Burkes
Reporter
A 1981 journalism graduate of Oklahoma State University, Paula Burkes has more than 30 years experience writing and editing award-winning material for newspapers and healthcare, educational and telecommunications institutions in Tulsa, Oklahoma...
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